Asian markets are higher today taking cues from Wall Street. The Shanghai Composite is up 0.47% while the Hang Seng is up 0.67%. The Nikkei 225 is trading up by 0.3%. Stock markets in US and Europe closed their previous session in green.

Meanwhile, Indian share markets too have opened the day on a strong note. BSE Sensex is trading higher by 161 points and NSE Nifty is trading higher by 49 points. Meanwhile, S&P BSE Mid Cap and S&P BSE Small Cap are trading higher by 0.9% and 0.7% respectively. Gains are largely seen in oil & gas, banking and power stocks.

The rupee is trading at 67.38 against the US$.

As per an article in a leading financial daily, Tata Motors is revamping its product strategy for the passenger car segment to safeguard itself from competition. In this regard, Tata Motors has created a new sub-brand called Tamo.

Tamo is a new vertical within Tata Motors which will work as a start-up. It will be collaborating with technology companies across the world and bring out sports luxury vehicles.

Reportedly, the company plans to launch two modular platforms and gradually phase out six existing platforms. The new modular platforms are aimed at launching more products across various segments to bring down the capital expenditure as customers are changing cars more frequently.

Moreover, introduction of Tamo will help the company co-design India’s automotive footprint by taking new technologies and mobility concepts as a new ecosystem, the company stated. Additionally, the company is also looking to build two vehicle platforms that’ll be used to build all Tata cars which use a common underlying design and components for all vehicles. Thereby reducing procurement costs and time-to-market.

The first car under the Tamo brand will be launched at the Geneva Motor show in March. As part of the strategy, Tata Motors will deliver seven-to-eight product variants from two platforms, for greater coverage and economies of scale. Further, with large auto makers already investing in these emerging technologies, it is clear that Tata Motors needs to make the move quickly to avoid losing out the race particularly when also technologically assisted driving can soon become a reality.